NAMIB MINERALS

Ticker: NAMMW CUSIP: G63638111 Class: *W EXP 06/05/203

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (3)

Arena Capital Advisors, LLC- CA

Value ($000) $39 Shares 540,930

Value ($000) $7 Shares 100,000

StoneX Group Inc.

Value ($000) $6 Shares 82,023

Institution	Shares	Value ($000)
Arena Capital Advisors, LLC- CA	540,930	$39
CSS LLC/IL	100,000	$7
StoneX Group Inc.	82,023	$6

Increased Positions (1)

Shaolin Capital Management LLC

Value ($000) $22 (-31.6%) Shares 300,000 (+33.3%)

Institution	Prev Shares	Curr Shares	Change
Shaolin Capital Management LLC	225,000	300,000	+75,000 (+33.3%)

Decreased Positions (6)

HIGHBRIDGE CAPITAL MANAGEMENT LLC

Value ($000) $35 (-64.9%) Shares 493,585 (-29.1%)

AQR Arbitrage LLC

Value ($000) $23 (-55.7%) Shares 321,741 (-13.7%)

Clear Street Group Inc.

Value ($000) $43 (-51.4%) Shares 593,009 (-5.2%)

WOLVERINE ASSET MANAGEMENT LLC

Value ($000) $25 (-52.8%) Shares 344,207 (-8.0%)

TORONTO DOMINION BANK

Value ($000) $15 (-52.3%) Shares 210,000 (-7.2%)

Warberg Asset Management LLC

Value ($000) $12 (-48.1%) Shares 155,000 (-3.1%)

Institution	Prev Shares	Curr Shares	Change
HIGHBRIDGE CAPITAL MANAGEMENT LLC	695,727	493,585	-202,142 (-29.1%)
AQR Arbitrage LLC	372,663	321,741	-50,922 (-13.7%)
Clear Street Group Inc.	625,827	593,009	-32,818 (-5.2%)
WOLVERINE ASSET MANAGEMENT LLC	374,299	344,207	-30,092 (-8.0%)
TORONTO DOMINION BANK	226,180	210,000	-16,180 (-7.2%)
Warberg Asset Management LLC	160,000	155,000	-5,000 (-3.1%)

Exited Positions (2)

Weiss Asset Management LP

Value ($000) $37 Shares 266,667

Parallax Volatility Advisers, L.P.

Value ($000) $41 Shares 291,152

Institution	Prev Shares	Prev Value ($000)
Weiss Asset Management LP	266,667	$37
Parallax Volatility Advisers, L.P.	291,152	$41